Sen. Lacson’s Opening Statement at the Hearing:
This is a continuation of our previous public hearing held last October 5, 2020, on the MUP pension bills referred to this committee, which was suspended with the commitment that an actuarial study would be conducted by the Government Service Insurance System (GSIS) together with our key stakeholders, such as the Bureau of Treasury and the MUPs, among others.
Just to refresh our memory, last year and this yearโs appropriations reflect the veracity of this serious financial concern, given the steep increase in the MUPsโ pension funding from P80 billion in 2020 to P120 billion under the 2021 General Appropriations Act.
Continue reading “Hearing of the Senate Defense Committee on MUP Concerns”